Here is a well-preserved example of why the term "Technicolor" entered the American lexicon as a metaphor for a style of storytelling (in literature or orally) that evokes vivid images in the minds of the audience. Say what you want about Natalie Kalmus as Technicolor's color consultant (and several directors have already said plenty), she was certainly able to coordinate the costuming and set design to show off her ex-husband's process to best advantage (or maybe the other designers chose the costumes and set designs over her objections—what the heck do I know?). After you've seen this, if you want to treat yourself to some real eye candy, great music, and a good story, have a look at
Till the Clouds Roll By, which is a fictionalized story of the life of Jerome Kern.
Modern filmmakers have gone so far as to use digital effects in an attempt to duplicate the rich, saturated colors of the Technicolor dye-transfer process. If the history (and a description of how the process actually worked) interests you, have a look at the
Early Color Motion Picture Processes section of the WideScreen Museum, and at this
Wikipedia article.